Lyten buys battery manufacturing assets from beleaguered Northvolt

Quick Summary:

Lyten, a Silicon Valley battery startup, announced today that it’s acquiring manufacturing assets from Northvolt, a Swedish battery manufacturer that’s facing a cash crunch.

As part of the deal, Northvolt is selling manufacturing equipment the company inherited in its 2021 acquisition of Cuberg, another battery startup.

Unlike many other battery manufacturers, Lyten isn’t relying on nickel, cobalt, manganese, or even iron for its cathode materials.

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Article Details

Author / Journalist: Tim De Chant

Category: Technology

Markets: United StatesChina

Topics: Climate Lithium-Ion Lyten Cuberg Lithium-ion battery Northvolt Battery manufacturing Transportation

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-13 @ 16:17:26 (20 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 562 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 23573109

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